Wellington Management Group LLP Sells 41,242 Shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM)

Wellington Management Group LLP cut its position in shares of Plymouth Industrial REIT, Inc. (NYSE:PLYM) by 3.0% in the third quarter, HoldingsChannel reports. The firm owned 1,342,461 shares of the company’s stock after selling 41,242 shares during the period. Wellington Management Group LLP’s holdings in Plymouth Industrial REIT were worth $30,340,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Jennison Associates LLC boosted its position in Plymouth Industrial REIT by 4.1% during the 3rd quarter. Jennison Associates LLC now owns 4,401,384 shares of the company’s stock valued at $99,471,000 after acquiring an additional 174,836 shares in the last quarter. Westwood Holdings Group Inc. grew its stake in Plymouth Industrial REIT by 1.0% in the second quarter. Westwood Holdings Group Inc. now owns 2,964,075 shares of the company’s stock valued at $63,372,000 after purchasing an additional 28,272 shares during the last quarter. State Street Corp raised its holdings in Plymouth Industrial REIT by 1.4% in the third quarter. State Street Corp now owns 1,223,747 shares of the company’s stock worth $27,949,000 after purchasing an additional 16,398 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Plymouth Industrial REIT by 24.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 910,751 shares of the company’s stock valued at $20,583,000 after buying an additional 180,003 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Plymouth Industrial REIT by 0.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 536,974 shares of the company’s stock valued at $11,480,000 after buying an additional 4,265 shares in the last quarter. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Plymouth Industrial REIT

In other Plymouth Industrial REIT news, CEO Jeffrey E. Witherell acquired 2,000 shares of the company’s stock in a transaction on Friday, November 15th. The shares were bought at an average cost of $18.49 per share, with a total value of $36,980.00. Following the completion of the acquisition, the chief executive officer now owns 252,248 shares in the company, valued at approximately $4,664,065.52. This trade represents a 0.80 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Pendleton P. Jr. White acquired 5,000 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was acquired at an average price of $18.39 per share, with a total value of $91,950.00. Following the completion of the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $91,950. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Robert W. Baird reduced their price objective on shares of Plymouth Industrial REIT from $26.00 to $25.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. BMO Capital Markets decreased their price objective on Plymouth Industrial REIT from $26.00 to $25.00 and set a “market perform” rating for the company in a report on Wednesday, August 28th. JMP Securities reiterated a “market outperform” rating and issued a $27.00 target price on shares of Plymouth Industrial REIT in a research note on Wednesday, August 28th. Barclays lowered their price target on Plymouth Industrial REIT from $25.00 to $22.00 and set an “equal weight” rating for the company in a research report on Monday, November 18th. Finally, BNP Paribas lowered Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and set a $23.00 price objective on the stock. in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $24.33.

Plymouth Industrial REIT Stock Performance

Shares of PLYM stock opened at $18.71 on Friday. The stock has a market cap of $849.23 million, a PE ratio of 935.50, a price-to-earnings-growth ratio of 1.44 and a beta of 1.34. Plymouth Industrial REIT, Inc. has a 52-week low of $18.08 and a 52-week high of $25.55. The business has a 50-day simple moving average of $20.01 and a 200-day simple moving average of $21.69. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 1.42.

Plymouth Industrial REIT Company Profile

Plymouth Industrial REIT, Inc (NYSE: PLYM) is a full service, vertically integrated real estate investment company focused on the acquisition, ownership and management of single and multi-tenant industrial properties. Our mission is to provide tenants with cost effective space that is functional, flexible and safe.